Will Facebook Pay $1 Billion for Waze?

Facebook is in advanced talks for an app called Waze and it could be Facebook's second $1 billion deal. MoneyBeat's David Benoit joins digits.

This transcript has been automatically generated and may not be 100% accurate.

... I ... Facebook is pushing ever harder into your mobile phone ... and David Benoit here at the latest on what the sauce network is up to ... it's about a billion dollar deal ... reporting today that Facebook is in late stage talks to buy we use an app you may have heard of ... otherwise you could download what is essentially a social network map ... the deals and finalized but the late stage talks are reporting ... what is way is essentially allows you to crowd source Corrections seat go on to the app and ... get ... ideas from your friends like no way there's traffic or where there might be a speed trap or where you might have ... percolating get some ... the dollar the fifty million times making one of the most successful apps and most popular on ... Apple's ... app store ... I was a need for Facebook essentially to signal their pushing ever harder into mobile technology and in a push to get mobile ... revenue ... but it made very clear that that's ... the future for the company and this is one more way for them to sell ads ... on a mobile device ... and ... it's a pretty big deal for the company they've only made one deal anywhere near this size ... which is Instagram about a year ago ... so he could mean that they're going to do more deals the size though they've been declared that they like and smaller deals so we'll see what